XRP is trapped in a Sideways trend, but on-chain data releases strong bullish signals! $3.08 may become the key breakthrough.

Since August 18, Ripple (XRP) has been consolidating within a narrow sideways range, with prices locked in the $2.84–$3.08 range. However, the latest on-chain data shows that demand and network activity are on the rise, and market sentiment is gradually shifting towards long positions, which may indicate that the resistance level at $3.08 is facing a breakthrough test.

Sideways Consolidation Pattern and Key Price Levels

(Source: Trading View)

From a technical perspective, XRP has been oscillating within a parallel channel since August 19:

Resistance level: 3.08 USD

Support level: 2.84 USD

This sideways pattern reflects a temporary balance between long positions and short positions in the market, with neither side able to gain a decisive advantage. Traders are generally waiting for a breakout signal to determine the direction of the next move.

On-chain data release shows bullish signals

(Source: Santiment)

According to Santiment data, the number of daily active addresses on the XRP ledger has been rising continuously over the past four days:

August 24: 37,615 active addresses

August 26: 44,123 active addresses (an increase of about 20%)

The increase in active addresses indicates that network participation and transaction interactions are recovering, which is often a sign of growing demand and enhanced asset utility.

(Source: Santiment)

At the same time, the weighted sentiment index for XRP has risen to 1.24, indicating that positive voices in community and market discussions clearly outnumber negative comments. This warming sentiment often attracts more buying pressure, pushing prices to challenge the upper resistance.

Potential Breakthrough and Downside Risks

(Source: Trading View)

If buying pressure continues to strengthen, XRP is expected to break through the resistance level of 3.08 dollars, opening up upward space, with the short-term target pointing to 3.22 dollars.

Bullish conditions: Trading volume supports the breakout, and the daily close stabilizes above $3.08.

Downside risk: If buying momentum is insufficient, the price may fall back to the 2.84 dollar support level, and even face the risk of breaking below, returning to a Sideways pattern.

Conclusion

XRP’s current sideways consolidation is both a result of the standoff between bulls and bears, and a stage for potential breakthroughs. The synchronized rebound of on-chain activity and market sentiment provides favorable conditions for long positions. Next, $3.08 will be a key level to observe whether the bulls can truly regain dominance. If a successful breakout occurs, XRP may welcome a new round of rebound; conversely, caution must be taken against the risk of testing support.